From the Vancouver Business Journal:
Disruptive technology, more accurately termed “disruptive innovation,” is defined as an innovation that doesn’t just change a product, but an entire market. Classic examples include the automobile assembly line that made cars affordable commodities, and more recently, e-books and online music sharing that are ushering out traditional publishers and stifling the market for CD players.
Such innovation, said Mike Bomar, executive director of the Columbia River Economic Development Council, is a two-edged sword.
“We see disruptive technologies in two ways,” said Bomar. “They can represent major shifts that could shut down industries or make them move elsewhere. But they can also represent an opportunity if we can position ourselves to capture high-growth companies or sectors that could evolve out of the disruptive technology.”
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Thurston, chief investment officer for Ironstone Group, a venture capital firm that invests solely in disruptive businesses, said 90 percent of startup companies that concentrate on sustaining innovation fail. However, he said those who find ways to provide lower cost, more accessible, easier to use goods and services increase their survival chances to 66 percent.
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In the retail sector, said Roberts, the Internet is forcing major changes to the traditional brick and mortar business model. Consumers now have easy access to price comparisons and same-day delivery.
Link to the rest at the Vancouver Business Journal